# Capital Allowances Act 2001, Section 380: When balancing adjustments are made


(1) A balancing adjustment is made if—
(a) qualifying expenditure has been incurred, and
(b) a balancing event occurs in a chargeable period for which a person would (apart from this section) be entitled to a writing-down allowance.
(2) A balancing adjustment is either a balancing allowance or a balancing charge and is made for the chargeable period in which the balancing event occurs.
(3) A balancing allowance or balancing charge is made to or on the person entitled to the relevant interest in relation to the qualifying expenditure immediately before the balancing event.

---
Source: https://www.legislation.gov.uk/ukpga/2001/2/section/380 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-380
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.